A food-ful partnership

• Cash flow is essential for F&B businesses. Small and medium enterprises (SMEs) that face challenges in these areas are stuck and can’t scale their operations. 500-backed end-to-end procurement management platform Food Market Hub took on this problem and solved it with a three-way partnership!
• The team partnered with Supplybunny, an F&B ordering platform, and Funding Societies, Southeast Asia’s largest unified SME digital financing platform, to offer a unique solution in Malaysia: the country’s first business-to-business (B2B) embedded financing program.
• Under this agreement, Food Market Hub connects its 3,000 F&B operators with the 800 suppliers on Supplybunny, with access to capital powered by Funding Societies.
• The embedded financing solution gives F&B operators the option to defer payment up to 30 days from the delivery date, while suppliers receive payment upon delivery.
• This is a win-win for the cash flow of their F&B operators and suppliers,  most of whom are small and medium enterprises (SMEs). F&B operators get to also benefit from better management of their working capital and rotating capital.
• Anthony See, CEO of Food Market Hub said, “Malaysia’s F&B industry is projected to contribute ~US$8B to the country’s GDP. Amidst that, an estimated 22% growth was recorded for 2022 and a further 8% expansion this year. Despite this year’s optimistic outlook, we need to prepare ourselves for a possible recessionary economy. In such a situation, the cash flow that SMEs save would allow them breathing room, so that they can reinvest into marketing or improving their customer experience. We want to help restaurant operators succeed in the competitive F&B industry.”
• What’s more, successful restaurant and F&B operators are eligible for a collateral-free, financing of up to US$11,372 under the business-to-business (B2B) financing program, with end-to-end application processes taking approximately two weeks.
• Read the full story on TechNode Global.